Indonesia ranks among top emerging crypto countries
The adoption of cryptocurrency in Indonesia is rapidly growing as the country has seen surging interest in digital assets this year and now ranks as the world’s “top crypto hotspot,” according to research by Australian cryptocurrency portal Coinformant.
In Indonesia, online engagement in digital assets has grown by a whopping 1,772 per cent this year as more people than ever before read articles and searched for information about digital assets, the research said. Annual search volume in Indonesia jumped by 575 per cent, beaten only by Chile where search volume increased by 707 per cent in 2021.
“Indonesia is the world’s crypto hotspot of 2021,” researchers at Coinformant concluded, adding that “its interest in cryptocurrencies accelerated the fastest across the board.”
No crypto ban intended in Indonesia
It comes as Indonesia’s government takes a supportive stance towards the use and ownership of digital assets. Indonesia’s finance minister recently told local media that the government was in favour of regulating crypto, but would not pursue an outright ban.
While interest in crypto is growing fast in the country, Indonesia has not historically been a leading region for crypto adoption.
Plenty of scope left
In 2020, less than three per cent of Indonesia’s 274-million population owned crypto, trailing adoption rates in the Ukraine where 12 per cent of the population holds digital assets, more than any other country worldwide.
Nonetheless, surging levels of engagement suggest that there is plenty of scope for growth, according to Coinformant.
The research results are in line with the latest global crypto adoption index by New York-based crypto advisor firm Chainalysis which ranked emerging economies including Vietnam, Kenya and Pakistan at the top of the list for crypto uptake.
The adoption of cryptocurrency in Indonesia is rapidly growing as the country has seen surging interest in digital assets this year and now ranks as the world’s “top crypto hotspot,” according to research by Australian cryptocurrency portal Coinformant. In Indonesia, online engagement in digital assets has grown by a whopping 1,772 per cent this year as more people than ever before read articles and searched for information about digital assets, the research said. Annual search volume in Indonesia jumped by 575 per cent, beaten only by Chile where search volume increased by 707 per cent in 2021. “Indonesia is the...
The adoption of cryptocurrency in Indonesia is rapidly growing as the country has seen surging interest in digital assets this year and now ranks as the world’s “top crypto hotspot,” according to research by Australian cryptocurrency portal Coinformant.
In Indonesia, online engagement in digital assets has grown by a whopping 1,772 per cent this year as more people than ever before read articles and searched for information about digital assets, the research said. Annual search volume in Indonesia jumped by 575 per cent, beaten only by Chile where search volume increased by 707 per cent in 2021.
“Indonesia is the world’s crypto hotspot of 2021,” researchers at Coinformant concluded, adding that “its interest in cryptocurrencies accelerated the fastest across the board.”
No crypto ban intended in Indonesia
It comes as Indonesia’s government takes a supportive stance towards the use and ownership of digital assets. Indonesia’s finance minister recently told local media that the government was in favour of regulating crypto, but would not pursue an outright ban.
While interest in crypto is growing fast in the country, Indonesia has not historically been a leading region for crypto adoption.
Plenty of scope left
In 2020, less than three per cent of Indonesia’s 274-million population owned crypto, trailing adoption rates in the Ukraine where 12 per cent of the population holds digital assets, more than any other country worldwide.
Nonetheless, surging levels of engagement suggest that there is plenty of scope for growth, according to Coinformant.
The research results are in line with the latest global crypto adoption index by New York-based crypto advisor firm Chainalysis which ranked emerging economies including Vietnam, Kenya and Pakistan at the top of the list for crypto uptake.
